IDB Invest Partners with Green Climate Fund to Promote Climate Investments in the Caribbean Private Sector
IDB Invest release
IDB Invest is partnering with the Green Climate Fund (GCF) to launch the Caribbean Net-Zero and Resilient Private Sector Program, which aims to drive greenhouse gas emission reductions and climate-resilient private sector investment towards the Caribbean region. The GCF approved up to $118.9 million in blended concessional and technical assistance funding to implement the program.
The new program will help to accelerate private sector investment in climate change mitigation and adaptation projects in the Caribbean. The participating countries are The Bahamas, Barbados, Belize, Dominican Republic, Guyana, Jamaica, Suriname and Trinidad and Tobago.
The Caribbean region is particularly vulnerable to the impacts of climate change. As economies dependent on climate-sensitive sectors such as tourism, agriculture and fisheries, the Caribbean is expected to be disproportionately affected by the projected sea level rise, increased hurricane intensity and changes in rainfall patterns. Despite the Caribbean’s strong commitment to climate mitigation and adaptation action, the region faces a significant financing gap for climate change projects.
"The Caribbean region remains at the heart of IDB Invest's priorities, which is why I am very pleased that we have received approval from the GCF to launch this program to support the Caribbean private sector in its efforts to adapt to climate change and reduce emissions," said James Scriven, CEO of IDB Invest. “Few regions in the world are more vulnerable to climate change-induced natural disasters such as hurricanes than the Caribbean, so this program comes at just the right time."
The program aims to reduce barriers to increase private sector investment in climate change projects by providing targeted technical assistance funding and targeted blended finance solutions to bring climate change projects to the frontier of commercial viability. The program’s five priority sectors include sustainable and climate-resilient infrastructure; renewable electricity generation and energy efficiency; sustainable transport, sustainable agriculture and forestry and the blue economy.
“In the Caribbean and around the world, our climate goals depend on the private and public sectors working together. The Green Climate Fund is proud to partner with the region and IDB Invest to mobilize more private investment for innovative projects with commercial potential in countries bearing disproportionate climate impacts,” said Mafalda Duarte, Executive Director of the Green Climate Fund.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Electric Power
![CentAm roundup: Power supply call, geothermal procurement, wind project visit](https://cdn-www.bnamericas.com/img/sectors/electricpower_2.jpg)
CentAm roundup: Power supply call, geothermal procurement, wind project visit
A review of energy sector developments in Central America.
![The southern area of Santiago receives 214 new electric buses](https://cdn-www.bnamericas.com/img/sectors/electricpower_1.jpg)
The southern area of Santiago receives 214 new electric buses
The new fleet replaces the old orange buses, benefiting nearly 280,000 people weekly from the municipalities of San Bernardo, El Bosque, La Cistern...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Electric Power
Get critical information about thousands of Electric Power projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Termogaira (Nencol 4)
- Current stage:
- Updated:
6 days ago
- Project: Termocosta (Nencol 3)
- Current stage:
- Updated:
6 days ago
- Project: Termobonda (Nencol 2)
- Current stage:
- Updated:
6 days ago
- Project: Lot 9 transmission lines (Mato Grosso - Pará) (ex Lot 5)
- Current stage:
- Updated:
6 days ago
- Project: Quillagua wind farm
- Current stage:
- Updated:
6 days ago
- Project: Los Aromos wind farm
- Current stage:
- Updated:
6 days ago
- Project: La Elbita II wind farm
- Current stage:
- Updated:
6 days ago
- Project: Luiz Carlos solar project
- Current stage:
- Updated:
4 days ago
- Project: Santa Rita 1 photovoltaic plant (Santa Rita photovoltaic complex)
- Current stage:
- Updated:
6 days ago
- Project: Kairós Wind 3 wind farm (Kairós wind complex - Phase II)
- Current stage:
- Updated:
6 days ago
Other companies in: Electric Power
Get critical information about thousands of Electric Power companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Enel Green Power Chile
-
Enel Green Power Chile Ltda., formerly Enel Latin America Chile Ltda., is the local unit of Italian multinational Enel Green Power S.p.A. It is engaged in the construction and o...
- Company: Enel Green Power Colombia S.A.S. ESP  (Enel Green Power Colombia)
-
Enel Green Power Colombia (EGPC), a Colombian subsidiary of the renewable energy firm Enel Green Power opened in 2012 in Bogotá, is in charge of the construction of the 86.2-MW ...
- Company: Vientos del Norte S.A.S. E.S.P.  (Vientos del Norte)
-
The description included in this profile was taken directly from an AI source and has not been edited or modified by BNamericas researchers. However, it may have been automatica...
- Company: Worley Engenharia Ltda.  (Worley Brasil)
-
Worley Engenheria is the Brazilian branch of Worley, an Australian-based company that offers consulting, engineering, procurement, construction management, and project managemen...
- Company: Esteyco S.A.  (Esteyco)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by BNamericas’ content team. However, it may have been au...
- Company: Knight Piésold Ltd.
- Company: Conexsol Latam
-
The description contained in this profile was extracted directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine...
- Company: Neoenergia Lagoa dos Patos Transmissão de Energia, S.A.  (Neoenergia Lagoa dos Patos Transmissão de Energia)
-
The description included in this profile was taken directly from an AI source and has not been edited or modified by BNamericas researchers. However, it may have been automatica...
- Company: Fénix Power Perú S.A.  (Fénix)
-
Fénix Power Perú is the owner and operator of the Fénix thermoelectric plant located in the district of Chilca, in Peru's Lima department. The facility includes two natural gas-...